EVIM vs. EVYM

Last updated Jun 4, 2026

EVIM (Eaton Vance Intermediate Municipal Income ETF) and EVYM (Eaton Vance High Income Municipal ETF) are both exchange-traded funds - EVIM is a Municipal Bonds fund actively managed by Eaton Vance, while EVYM is a High Yield Muni fund actively managed by Eaton Vance. Both are actively managed. Over the past year, EVIM returned 8.07% vs 10.52% for EVYM. A 0.71 correlation means they provide meaningful diversification when combined. EVIM charges 0.29%/yr vs 0.40%/yr for EVYM.

Performance

EVIM vs. EVYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Intermediate Municipal Income ETF (EVIM) and Eaton Vance High Income Municipal ETF (EVYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVIM achieves a 1.40% return, which is significantly lower than EVYM's 3.30% return.

EVIM

• 1D: 0.15%
• 1M: 0.72%
• YTD: 1.40%
• 6M: 1.93%
• 1Y: 8.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVYM

• 1D: -0.15%
• 1M: 1.16%
• YTD: 3.30%
• 6M: 3.97%
• 1Y: 10.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EVIM vs. EVYM - Yearly Performance Comparison

	2026 (YTD)	2025
EVIM Eaton Vance Intermediate Municipal Income ETF	1.40%	4.12%
EVYM Eaton Vance High Income Municipal ETF	3.30%	3.70%

Correlation

The correlation between EVIM and EVYM is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Feb 28, 2025	0.71

The correlation between EVIM and EVYM has been stable across timeframes, ranging from 0.68 to 0.71 - a consistent structural relationship.

Return for Risk

EVIM vs. EVYM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EVIM

EVIM Risk / Return Rank: 76
EVIM Sharpe Ratio Rank: 87
EVIM Sortino Ratio Rank: 91
EVIM Omega Ratio Rank: 94
EVIM Calmar Ratio Rank: 55
EVIM Martin Ratio Rank: 51

EVYM

EVYM Risk / Return Rank: 85
EVYM Sharpe Ratio Rank: 87
EVYM Sortino Ratio Rank: 92
EVYM Omega Ratio Rank: 91
EVYM Calmar Ratio Rank: 77
EVYM Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EVIM vs. EVYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Intermediate Municipal Income ETF (EVIM) and Eaton Vance High Income Municipal ETF (EVYM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EVIM	EVYM	Difference
Sharpe ratio: Return per unit of total volatility	2.89	2.87	+0.02
Sortino ratio: Return per unit of downside risk	4.33	4.44	-0.11
Omega ratio: Gain probability vs. loss probability	1.68	1.60	+0.07
Calmar ratio: Return relative to maximum drawdown	2.66	3.81	-1.16
Martin ratio: Return relative to average drawdown	8.63	14.44	-5.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVIM vs. EVYM - Sharpe Ratio Comparison

The current EVIM Sharpe Ratio is 2.89, which is comparable to the EVYM Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of EVIM and EVYM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EVIM	EVYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.89	2.87	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	0.93	+0.65

Drawdowns

EVIM vs. EVYM - Drawdown Comparison

The maximum EVIM drawdown since its inception was -4.23%, smaller than the maximum EVYM drawdown of -6.08%. Use the drawdown chart below to compare losses from any high point for EVIM and EVYM.

Drawdown Indicators

	EVIM	EVYM	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-6.08%	+1.85%
Max Drawdown (1Y) Largest decline over 1 year	-3.05%	-2.77%	-0.28%
Current Drawdown Current decline from peak	-0.99%	-0.15%	-0.84%
Average Drawdown Average peak-to-trough decline	-0.88%	-1.49%	+0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.73%	+0.21%

Volatility

EVIM vs. EVYM - Volatility Comparison

The current volatility for Eaton Vance Intermediate Municipal Income ETF (EVIM) is 0.85%, while Eaton Vance High Income Municipal ETF (EVYM) has a volatility of 0.94%. This indicates that EVIM experiences smaller price fluctuations and is considered to be less risky than EVYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVIM	EVYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.85%	0.94%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	1.94%	2.59%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	2.81%	3.69%	-0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.86%	6.08%	-2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.86%	6.08%	-2.22%

EVIM vs. EVYM - Expense Ratio Comparison

EVIM has a 0.29% expense ratio, which is lower than EVYM's 0.40% expense ratio.

Dividends

EVIM vs. EVYM - Dividend Comparison

EVIM's dividend yield for the trailing twelve months is around 3.55%, less than EVYM's 4.78% yield.

Position	TTM	2025	2024	2023
EVIM Eaton Vance Intermediate Municipal Income ETF	3.55%	3.58%	3.56%	0.78%
EVYM Eaton Vance High Income Municipal ETF	4.78%	3.72%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVIM and EVYM in my portfolio?

EVIM and EVYM have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVIM or EVYM?

EVYM has higher volatility (0.94%) compared to EVIM (0.85%). In terms of maximum drawdown, EVIM dropped -4.23% vs EVYM's -6.08%.

Which ETF is better, EVIM or EVYM?

On 1-year performance, EVYM leads with 10.52% vs 8.07% for EVIM. On fees, EVIM is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVIM or EVYM?

Over the 1-year period, EVYM has performed better with a 10.52% return vs 8.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVIM or EVYM?

EVIM is cheaper with a 0.29% expense ratio, compared with 0.40% for EVYM.

Which ETF pays a higher dividend yield, EVIM or EVYM?

EVYM has the higher dividend yield at 4.78%, compared with 3.55% for EVIM.

What is the main difference between EVIM and EVYM?

EVIM is categorized as Municipal Bonds, while EVYM is High Yield Muni. Their fees differ too: 0.29% for EVIM and 0.40% for EVYM.

Which has better risk-adjusted returns?

EVIM currently has the higher Sharpe Ratio (2.89 vs 2.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.